Icon Wealth Advisors LLC Increases Stock Holdings in Enbridge Inc. (NYSE:ENB)

Icon Wealth Advisors LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 227.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,613 shares of the pipeline company's stock after buying an additional 29,613 shares during the quarter. Icon Wealth Advisors LLC's holdings in Enbridge were worth $1,731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cibc World Market Inc. increased its stake in shares of Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company's stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company's stock worth $821,331,000 after buying an additional 827,540 shares during the period. Toronto Dominion Bank lifted its position in shares of Enbridge by 3.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company's stock valued at $665,655,000 after buying an additional 644,526 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ENB shares. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th.

Enbridge Price Performance

ENB traded down $0.23 on Friday, hitting $43.26. 4,554,010 shares of the company's stock were exchanged, compared to its average volume of 4,174,113. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70. The stock has a market cap of $94.22 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 4.23 and a beta of 0.93. The firm has a 50-day moving average price of $41.40 and a 200-day moving average price of $38.67. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. Enbridge's dividend payout ratio is currently 121.76%.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.